HOUSEBUILDER Persimmon reported further growth in revenues as the firm announced North regional boss Jeff Fairburn would take the top job in April.

Mike Farley, who has been chief executive since April 2006 and has 30 years’ service, is stepping down as the firm said revenues improved by 12 per cent to £1.7bn last year, helped by a six per cent rise in sale completions to 9,903 homes over the year and a six per cent rise in the average selling price to £173,400.

The company, whose brands include Charles Church and Westbury, expects further growth in demand from first-time buyers this year after securing an additional allocation of 3,000 homes under the FirstBuy scheme, which sees the Government and housebuilders provide part of the deposit.

Persimmon also reported progress in returning operating margins to within a range of 15 to 17 per cent, having lifted the key measure of profitability to 13.5 per cent in the second half of last year, up from 10.8 per cent a year earlier.

Mr Farley, who joined Persimmon in 1983 and was responsible for developing the group’s business in the Midlands before becoming chief executive, said the business was well placed to grow.

He said: “I am confident that it will become an even stronger and bigger business over the coming years.”

The news comes as construction group Balfour Beatty delivered a trading update its results for the year ending December 31, which will be announced on March 7.

Balfour said 2012’s performance was “in line with expectations”

and is anticipating an order book in excess of £15bn for the year end, which is broadly in line with the levels at the end of 2010 and 2011.

The firm report that difficulties in UK construction and European rail markets have seen the order book shifting from construction to professional services and support services, and from buildings to infrastructure projects, which due to the longterm nature of the contracts, meant the revenue benefit would not be seen until 2014.

The firm has just completed a number of high-profile deals, including the acquisition of US firm Subsurface Group, to expand the energy storage services business; a £150m highways maintenance contract with Wiltshire County Council; and a £321m design and construction contract to upgrade sections of the M25 in a 50-50 joint venture with Skanska.